RJFS Raises RIA minimums, LPL Pulls Past RJ in RIA Assets

Published Thursday, October 29, 2009

Raymond James is raising minimums for new RIAs who want to custody assets on its RJFS-IAD platform from $30 million to $50 million. The firm said the move will both help it cut the cost of serving RIAs and also act as a draw for bigger RIAs, who tend to want to work with other RIAs of similar size. Advisors who do not meet the new asset minimums will be referred to existing Raymond James RIAs and encouraged to partner with them.

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